Grant mortgage payment deferrals on request during Covid-19 outbreak

Grant mortgage payment deferrals on request during Covid-19 outbreak

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Monika Blackman started this petition to Australian Banks and

The economic impact of Covid-19 is already hitting some workers hard, and it has barely begun. Once workers lose incomes, landlords lose incomes, then banks lose incomes and the whole housing market and economy are seriously impacted in a way that will take years to recover. The banks could be left repossessing homes that have little to no value. 

While understanding that banks are not charities, all banks posted profits last financial year. 

If a tenant is struggling, they will approach their agent or landlord for rent arrangements. 

If the owner is paying a mortgage, they often rely on the rental income to assist. 

IF BANKS ALLOW MORTGAGE DEFERRALS ON REQUEST the housing market might not collapse, the tenants might not become homeless, and our economy and society will be better off. Many owner-occupiers wil also be losing income and should be granted the same deferral options.

There is no value for a bank in repossessing a home it cannot sell because no one can buy it. 

Money can't trickle up if there isn't any. But goodwill can trickle down. 

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